You’ll get your subdivision money, Anawak tells Iqaluit

MICHAELA RODRIGUE
Nunatsiaq News

IQALUIT — Iqaluit will get the money it needs to develop a new subdivision, Community Government Minister Jack Anawak told Iqaluit Town Council this week.

At a special town council meeting, Anawak assured councillors that they will get money to develop a new mixed use subdivision slated for the Road to Nowhere.

But he said, the Town’s debenture request still has to be approved by the Nunavut government.

“It has not been submitted to cabinet, but you will get the dollars eventually. At this time you are making a request to get debenture financing. That has to be approved through Nunavut government first,” Anawak told the council.

Anawak also revealed the government cannot issue a debenture until it passes the necessary legislation this fall.

But the Town has a letter signed by Jack Anawak stating it will receive an advance worth up to $3,897,108 for the project. The advance will be forwarded in pieces as bills from the contractor come in.

The advance must be repaid by Dec. 31, 1999 with the money from the loan. The loan is expected to come directly from the Nunavut government.

At this point, the Town is moving ahead with the project, said Matthew Hough, the project co-ordinator for the Town of Iqaluit. The Town hopes to have the subdivision developed this fall.

At a second council meeting, the Town also decided on financing for its new sewage treatment facility.

The Nunavut Government has approved a $1.8-million contribution agreement for the project. The Town will “bridge finance” the remaining $3.32 million in costs.

This week council passed a borrowing bylaw allowing staff to take out a loan. It is expected the Nunavut government will sign a contribution agreement for the $3.32 million next year.